Hyundai brave

Creditors of Hyundai Merchant Marine (HMM) today rejected a rescheduling of the troubled shipping company’s debt, pushing it to the verge of bankruptcy.

A statement released by HMM and its main creditor, state-owned Korea Development Bank (KDB), said that despite the creditors’ rejection of debt rescheduling ...

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  • John

    March 17, 2016 at 3:10 pm

    This is really big news.
    I bet shippers all over the world are cancelling their HMM bookings right now.

  • Former HMM employee

    March 25, 2016 at 8:27 pm

    I saw this coming long ago mostly brought on by bad decisions by arrogant upper management that wouldn’t listen to sound advise by subordinates. That, as well as waste and abuse by company managers, directors and above of funds through extravagant personal expenditures charged to the company.